Tag: Banking

Zoho, a Chennai-based SaaS company, is developing an AI model to compete with Google and OpenAI. The LLM will summarise, paraphrase, and adapt to new tasks. Zoho's growth in India is impressive, spanning multiple sectors.

UBS acquisition of Credit Suisse raises concerns among Credit Suisse bankers. JPMorgan settles a lawsuit tied to Jeffrey Epstein, Nasdaq acquires Adenza, and AI startups struggle on the secondary market. Alex Soros takes over the Open Society Foundation, and tips for finding the right mentor and working out in extreme temperatures.

Bank of America's new AI-powered tool, Banker Assist, is revolutionizing banking. With access to internal and external databases, Banker Assist helps bankers research clients and increases their efficiency by saving hours of research for each client brief. The goal is to increase productivity while also identifying credit lines and relationships with competitor banks. Bank of America is focused on deploying tools that truly understand client's needs and increasing employee effectiveness.

Daiwa Securities Group allows 9,000 of their employees to use AI-powered chatbot ChatGPT to explore the potential of evolving technology. This move follows the lead of global banks such as Deutsche Bank and JPMorgan Chase & Co. incorporating AI in their operations. Daiwa aims to keep up with Wall Street and recruit science graduates to develop high-tech experts in-house. By using AI, banks can streamline processes, better serve clients and save time. This move affirms Daiwa's focus on incorporating AI technology and transforming the financial industry.

Google's ChatGPT and Bard are changing the game in generative AI tools. AI market revenue is set to soar from $40 billion in 2020 to $1.3 trillion by 2032.